| Tweed Media Limited |
| Notes to the Accounts |
| for the year ended 30 April 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention, in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss. |
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Going concern |
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The directors have prepared forecasts covering a period of greater than twelve months from the date of their approval of these financial statements. The directors consider that the company will have adequate resources to continue in operational existence for the foreseeable future and, accordingly, continue to adopt the going concern basis in preparing the financial statements. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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Tangible fixed assets |
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Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses |
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An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
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Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |
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Equipment |
25% straight line |
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Fixtures and fittings |
25% straight line |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Profit before taxation |
2025 |
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2024 |
| £ |
£ |
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Profit before taxation is stated after charging: |
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Depreciation of fixed assets |
3,206 |
|
5,813 |
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| 3 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
3 |
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4 |
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| 4 |
Tangible fixed assets |
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Equipment |
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Fixtures and fittings |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 May 2024 |
19,404 |
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3,326 |
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22,730 |
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At 30 April 2025 |
19,404 |
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3,326 |
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22,730 |
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Depreciation |
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At 1 May 2024 |
15,087 |
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2,712 |
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17,799 |
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Charge for the year |
2,709 |
|
497 |
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3,206 |
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At 30 April 2025 |
17,796 |
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3,209 |
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21,005 |
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Net book value |
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At 30 April 2025 |
1,608 |
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117 |
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1,725 |
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At 30 April 2024 |
4,317 |
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614 |
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4,931 |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
207,608 |
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44,768 |
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Other debtors |
94,320 |
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186,750 |
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301,928 |
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231,518 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
10,000 |
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10,543 |
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Trade creditors |
16,795 |
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23,085 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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10,000 |
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- |
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Corporation tax |
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7,586 |
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30,805 |
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Taxation and social security costs |
35,991 |
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17,777 |
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Other creditors |
22,935 |
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10,014 |
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103,307 |
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92,224 |
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Bank loans and overdrafts includes £10,000 in respect of a loan under the Coronavirus Bounce Back Loan Scheme (2024: £10,543) which bears interest at 2.42% and is repayable over 5 years. |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans |
7,500 |
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16,954 |
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Bank loans and overdrafts includes £7,500 in respect of a loan under the Coronavirus Bounce Back Loan Scheme (2024: £16,954) which bears interest at 2.42% and is repayable over 5 years. |
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| 8 |
Other financial commitments |
2025 |
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2024 |
| £ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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12,259 |
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32,497 |
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| 9 |
Loans to directors |
| B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
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Mrs S E Barr |
26,460 |
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3,632 |
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(400) |
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29,692 |
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Mr S K Barr |
26,826 |
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16,007 |
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- |
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42,833 |
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53,286 |
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19,639 |
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(400) |
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72,525 |
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These loans are interest free and have no fixed repayment terms. |
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| 10 |
Related party transactions |
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The company provides public relations and administrative services to Time Well Spent Group Limited, a company registered in England & Wales and of which Mr & Mrs S Barr are both directors and, indirectly, shareholders. The amount invoiced to Time Well Spent Group Limited during the year was £332,057 (2024 - £41,850). The amount included in Trade Debtors owed by Time Well Spent Group Limited at 30 April 2025 was £156,478 (2024 - £15,117). |
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During the year Time Well Spent Group Limited invoiced the company for staff support amounting to £11,405 (2024 - £14,377). The amount included in Trade Creditors owed to Time Well Spent Group Limited at 30 April 2025 was £13,196 (2024 - £Nil). |
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The company rents its current office space in Edinburgh from Gnaton Capital Limited, a company registered in Scotland and of which Mr S Barr is a director and Mr & Mrs S Barr are shareholders. The amount paid in rent and services during the year was £21,817 (2024 - £22,840). The amount owing to Gnaton Capital at 30 April 2025 was £829 (2024 - £Nil) |
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The company provides marketing services to Farming the Wild Productions Limited, a company registered in England & Wales, of which Mr S Barr is a director and in which Gnaton Capital Limited has a 15% shareholding. The amount invoiced to Farming the Wild Productions Ltd during the year was £7,500 (2024 - £30,000). The amount owed by Farming the Wild Productions Limited at 30 April 2025 was £Nil (2024 - £3,053). |
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The company provides public relations and marketing services to Gordy & Sons LLC, a company registered in Texas, USA, of which Mr G Gordy is a vice-president. The amount invoiced to Gordy & Sons during the year was £Nil (2024 - £39,641). The amount included in Trade Debtors owed by Gordy & Sons LLC at 30 April 2025 was £Nil (2024 - £3,567). |
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| 11 |
Other information |
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Tweed Media Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Jubilee House |
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92 Lincoln Road |
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Peterborough |
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PE1 2SN |